Every Tech Billionaire in India Takes Hit From Trump Visa Reform

It’s hard to overstate the importance of the technology industry to India. Over the past three decades, the IT sector has helped drive the country’s economic growth, employed millions and made billionaires out of at least seven founders.

Now the industry is at risk from U.S. President Donald Trump’s policies. The administration is promising a clampdown on the work visas India’s tech services companies use to service American customers. In the days since the U.S. government took first steps toward visa reform, all of India’s highest-profile technology tycoons have seen their net worth eroded.